New Delhi, July 18 (KNN) United States imposed additional tariff of 25% and 10% on steel and aluminum respectively under section 232 of Trade Expansion Act, 1962 in March, 2018 on a global basis.

While India’s steel export in the affected lines to US declined by 35% during the FY 2018-19 compared to FY 2017-18, aluminum export in the affected lines have increased by 14% during the same period, said Hardeep Singh Puri, Minister of State for Commerce and Industry.

In a written reply to Lok Sabha, he said that India's bilateral relations with Iran and the US stand on their own merit and is not influenced by relations between other countries. Government of India consistently monitors all developments with a bearing on its national interest and takes necessary measures to safeguard and protect the same.

The Minister said that India has been engaged with US on this issue, as part of the ongoing bilateral trade dialogue. The US did not accede to India’s request for withdrawal of these duties.

In response, Government of India imposed retaliatory tariffs on 28 products originating or exported from the US with effect from 16th June, 2019 vide notification no. 17/2019-Customs dated 15th June, 2019 of Department of Revenue, he added.

He stated that the retaliatory tariffs are expected to have an additional impact in terms of duty incidence of about USD 217 Million approximately on these 28 products imported from US.